Cryptocurrency Market Faces Weekend Bloodbath; Samsung Blockchain Technologies ETF (03171.HK) Plunges Over 8% in Afternoon Trading

NewTimeSpace Wire: On February 2, Bitcoin briefly plunged below $76,000 in early trading, down approximately 40% from its 2025 peak. Ethereum, the second-largest cryptocurrency by market capitalization, tumbled over 11% to an intraday low of $2,256.Samsung Blockchain Technologies ETF(03171.HK), also known as A Samsung Blockchain, extended losses in afternoon trading, dropping over 8%.

According to data from CoinGlass, the brutal rout across cryptocurrency markets over the past 24 hours resulted in the forced liquidation of 411,459 traders globally, with total liquidation amounts reaching $2.529 billion.

Samsung Blockchain Technologies ETF(03171.HK) provides exposure to global blockchain-related enterprises. As Asia's first blockchain-themed ETF, it offers investors a specialized vehicle to participate in the development of global blockchain technology. Through an active management strategy, the fund selects high-quality blockchain-related companies to capture opportunities arising from industry growth.

Brian Jacobsen, Chief Economist at a US wealth management firm, believes that further cryptocurrency selling could materialize in the coming days. Beyond digital assets, precious metals including gold and silver—which had previously surged—also faced massive selling pressure following President Trump's announcement nominating Kevin Warsh as the next Federal Reserve Chair, triggering steep price declines.

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